Prime Minister Jacinda Ardern was joined at her Monday post-cabinet press conference by Minister of Finace Grant Robertson and Minister of Commerce and Consumer Affairs Kris Faafoi to discuss banking.

PM’s Post-Cabinet Press Conference 5/11/18: Banking (and Czechs)

Prime Minister Jacinda Ardern was joined at her Monday post-cabinet press conference by Minister of Finace Grant Robertson and Minister of Commerce and Consumer Affairs Kris Faafoi to discuss banking. A report by the Reserve Bank and the Financial Markets Authority into banking conduct and culture has found significant weaknesses in the governance and management of conduct risks. The ministers noted the review did not find problems as serious as those discovered in Australia, and discussed the government response, including possible regulation, as well as implications for the review of the Reserve Bank and the possibility of market studies.

Other topics included further firework restrictions by government (not under consideration) or local government, implications of NZ taking refugees from Nauru, the report into the appointment of Wally Haumaha as a deputy police commissioner (now with the minister), the PM’s upcoming visit to Ratana, the Karel Sroubek immigration saga, the Jami-Lee Ross saga and possible Botany by-election, the government’s Business Advisory Council, and the advisability of asking Shane Jones to keep his mouth shut.